DO IT! 1.4 (LO 4), C Match the descriptions that follow with the corresponding terms. Descriptions: 1. 2. Inventory system in which goods are manufactured or purchased just as they are needed for sale. A method of allocating overhead based on each product's use of activities in making the product. Ide acc ER 1 Managerial Accounting 3. 4. 5. 6. 7. Terms: Systems that are especially important to firms adopting just-in-time inventory methods. Part of the value chain for a manufacturing company. The U.S. economy is trending toward this. A performance-measurement approach that uses both financial and nonfinancial measures, tied to company objectives, to evaluate a company's operations in an integrated fashion. Requires that top managers certify that the company maintains an adequate system of internal controls over financial reporting. a. Activity-based costing. b. Balanced scorecard. c. Total quality management (TQM). d. Research and development, and product design. e. Service industries. f. Just-in-time (JIT) inventory. g. Sarbanes-Oxley Act (SOX).